The Gene Therapy Market is projected to grow from USD 10.8 billion in 2024 to USD 43.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.87% during the forecast period (2024 - 2032).
Gene therapy, a ground-breaking field in the realm of medicine, is rapidly transforming the landscape of healthcare. It involves the introduction, alteration, or replacement of genetic material within an individual's cells to treat or prevent diseases. This innovative approach holds immense promise, offering potential cures for previously incurable genetic disorders and chronic conditions.
The gene therapy market is witnessing unprecedented growth, fueled by advancements in molecular biology, genetic engineering, and biotechnology. One of the key driving forces behind this growth is the convergence of gene therapy with cell therapy, creating a powerful synergy that enhances treatment efficacy across a spectrum of diseases.
Cell therapy, a pivotal component of the gene therapy landscape, involves the transplantation of living cells into a patient's body for therapeutic purposes. Stem cells, in particular, play a crucial role in regenerative medicine, offering the potential to repair damaged tissues and organs. The integration of cell therapy with gene therapy amplifies the therapeutic impact by addressing both genetic and cellular aspects of diseases. This combined approach holds tremendous potential for treating conditions such as cancer, neurodegenerative disorders, and autoimmune diseases.
Major Key Players:
Some of the Gene Therapy Companies are Amgen, Inc. (US), Novartis AG (Switzerland), Spark Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), uniQure N.V. (Netherlands), Orchard Therapeutics plc (UK), Celgene Corporation (US), Bristol-Myers Squibb Company (US), Thermo Fisher Scientific Inc. (US), CEVEC (Germany), and Lonza (Switzerland).
Segment Analysis
The global gene therapy market has been segmented based on product, indication, and end user.
The market, based on product, has been divided into kymriah, luxturna, yescarta, zolgensma, strimvelis, zynteglo, imlygic, and others.
The global gene therapy market has on the basis of indication is segmented, into oncology, genetic diseases/ disorders, and others. The oncology segment is expected to hold the largest market share and to be the fastest-growing segment due to high prevalence of cancer and robust pipeline for cancer gene therapy.
The end-user segments of the market are hospitals & clinics, specialty treatment centers, and others. The hospitals & clinics segment is expected to hold the largest market share due to increasing number of hospitals. Also, hospitals are generally the first treatment choice for diseases.
Regional Analysis
The global gene therapy market is studied across four major regions: Asia-Pacific, Europe, the Americas, the Middle East, and Africa.
According to the MRFR reports, the American regional gene therapy market is likely to dominate globally over the review timeframe. The regional market's growth is driven by the rising per capita medical care consumption and the expanding pervasiveness of quality treatment. The regional market is further divided into Latin America and North America.
The European regional market will likely register substantial growth over the review timeframe. The region is further divided into Eastern Europe and Western Europe. The well-established medical infrastructure is driving the regional market's growth.
The Asia-Pacific region is projected to grow at the highest pace over the coming years. The bringing issues are driving the regional market's growth to light about the treatment strategies and growing number of patients.
Given the lack of skilled professionals and poor health infrastructure, the gene therapy market for the Middle East & African region is likely to record the CAGR over the assessment timeframe.
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